Fast Debt Solutions, Inc.

Description

U.S.O.B.A. Required Standard Disclosures As a member of the United States Organizations for Bankruptcy Alternatives (USOBA), Fast Debt Solutions [hereinafter “We ”] regularly receive and have access to support and information regarding best practices in the debt settlement services industry. This includes information about state and federal laws, best marketing practices, consumer protection and more. As a USOBA member company, we are committed to provide the best possible customer care experience. If you, as a customer of a USOBA member company, would like to contact USOBA regarding your experience with us, please feel free to do so by calling 281-820-0666 or emailing us at info@usoba.org Following a debt resolution plan requires a long-term commitment from both you and us. It is important that you realize that there are potential benefits and potential obstacles to successfully completing any program. Please take a moment to review the following disclosure document because it is important that you understand each item listed. Please request further explanation if you need clarification regarding any disclosure included in this document. By initialing each item below, you are attesting that We fully explained each disclosure listed, you were provided time to review each disclosure, and you understand each disclosure. (1) PROGRAM SELECTION AND ALERTNATIVES. We determine your eligibility for a debt settlement program, but we do NOT evaluate your unique credit and debt situation to determine the best debt relief option for you. It is your responsibility and choice to evaluate and determine which option is best for you. It is important to be aware of other debt relief options which may include credit counseling , bankruptcy or working directly with your creditors. (2) CREDIT RATING IMPACT. While participating in a debt settlement program, your credit score may be negatively impacted. Your credit report may reflect the fact that you have ceased paying your creditors. Furthermore, upon completion of a debt settlement program a debt settled for less than the full amount of the amount owed may result in a negative notation on your credit report. Please visit www.myfico.com for further information about credit ratings. (3) TAX LIABILITY. If you settle a debt with a creditor for less than the full amount of that debt, you may have to pay income taxes on the amount the debt was reduced for settlement. We are neither able to provide assistance with the completion of your tax return, nor advise how you should or should not treat income tax payable on debt that has been forgiven through a debt settlement program. We do recommend, however, that you consult with a tax advisor to guide you through this process and determine if you qualify for exemption. More information and links to the Bankruptcy Tax Guide, IRS Form 982 and Reduction of Tax Attributed to Discharge of Indebtedness is available at www.irs.gov. (4) CREDITOR COLLECTION ACTIVITY.

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